Russians continue withdrawing their cash from banks

Large Russian banks may face a shortage of funds soon; in June, clients removed more than $600 mio from their foreign currency deposits with seven largest banks, said Maxim Osadchy, head analyst at BKF bank in Moscow.

According to investors, banks are offering very low profitability, and also refuse to renew deposits, RBC writes.

Russians have withdrawn the biggest amounts from VTB, Raiffeisenbank and Alfa-Bank. Even though the crisis is supposedly past its peak, Russians continue their flight from banks. As of July 1, Russians had $89.56 bln in foreign currency.

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